Our Verdict
A balance transfer card with benefits that don’t necessarily align well with balance transfer usage, the State Farm Good Neighbor Visa® Card* is not likely a good neighbor for other cards in a wallet. The card’s 0% introductory APR on purchases and balance transfers for the first 18 billing cycles, then a standard APR of 19.24% - 29.24% variable applies - balance transfers must be made in the first 60 days to qualify for the intro rate—means the best use of this card is for deferring payment and interest on large purchases or balances moved from another credit card.
Pros
- No annual fee
- Introductory APR on balance transfers and purchases
- Auto deductible reimbursement, extended warranty and travel emergency assistance benefits
Cons
- No rewards
- Benefits are mostly related to regular travel purchases and not balance transfers
- 3% of the amount of each transfer or $5 minimum, whichever is greater
Highlights
- No annual fee
- Cell phone protection
- Low introductory offer
Introduction
As with other cards bearing the State Farm name, we’re underwhelmed with the State Farm Good Neighbor Visa® Card* offering. A 0% introductory APR for the first 18 billing cycles for balances transferred within 60 days from account opening makes the card a medium-length balance transfer card, but like most balance transfer cards, it still has a balance transfer fee of 3% of the amount of each transfer or $5 minimum, whichever is greater. Moreover, there are no late payment waiver benefits or other more balance-transfer-friendly perks.
The card offers a unique auto deductible reimbursement benefit. You can receive up to $200 of reimbursement for the deductible of an auto insurance claim if you made at least eight purchases on your card in the prior month.
Cardholders also receive an extended warranty perk, cellphone protection and travel and emergency services support. Other cards on the market provide these benefits too while also earning cash back—something this card doesn’t do.
Though it has no annual fee and the protections are nice, this card just doesn’t offer enough. We believe it’s unlikely this card will be of much value to most potential cardholders except for its intro APR offer on purchases and balance transfers, but even that can be beaten by other cards.
Featured Partner Offers
Quick Facts
- 0% introductory APR on purchases and balance transfers for the first 18 billing cycles, then a standard APR of 19.24% - 29.24% variable applies - balance transfers must be made in the first 60 days to qualify for the intro rate
- $0 annual fee
- Up to $200 of auto insurance deductible reimbursement
- Cellphone protection perk
- Extended warranty protections
0% Introductory Rates
The State Farm Good Neighbor Visa offers a 0% introductory APR on purchases and balance transfers for the first 18 billing cycles, then a standard APR of 19.24% - 29.24% variable applies - balance transfers must be made in the first 60 days to qualify for the intro rate.
Other State Farm Good Neighbor Visa Credit Card Benefits
- Extended warranty. Up to an additional year of warranty for eligible purchases made with the card.
- Cellphone protection. Up to $600 in coverage for damaged or stolen cellphones when you pay your monthly cell phone bill with your card.
- Travel and emergency service. Emergency services while traveling—anywhere in the world.
Fine Print
Interest Rates
- Regular APR: 19.24% - 29.24% variable
- Purchase intro APR: 0% introductory APR for the first 18 billing cycles
- Balance transfer intro APR: 0% introductory APR for the first 18 billing cycles for balances transferred within 60 days from account opening
Fees
- Annual fee: $0
- Balance transfer fee: 3% of the amount of each transfer or $5 minimum, whichever is greater
- Foreign purchase transaction fee: 3% of each foreign transaction
How the State Farm Good Neighbor Visa Credit Card Stacks Up
State Farm Good Neighbor Visa® Card* vs. Citi Double Cash® Card
A great example of a card with both excellent rewards and low introductory APR on balance transfers is the Citi Double Cash® Card. Not only does the card earn 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off—it offers an impressive 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). While there are few additional benefits, for those who want cash-back earning or serious balance transfer pay-down time, the card is hard to beat.
The State Farm Good Neighbor Visa® Card* has a comparatively higher number of consumer protections and its low introductory APR period extends to purchases as well as balance transfers.
State Farm Good Neighbor Visa® Card* vs. State Farm Premier Cash Rewards Visa Signature® Card*
Of these two State Farm co-branded cards, the State Farm Premier Cash Rewards Visa Signature® Card* is the only one that offers rewards. Cardholders earn 3% cash back on insurance premium payments, up to $4,000 spent annually, 2% cash back at gas stations, drugstores, grocery stores and on dining, including takeout and food delivery service purchases and 1% cash back on all other purchases. It’s rare to find a credit card that offers bonus rewards on insurance premiums. However, this card doesn’t come with an introductory APR offer.
The extra benefits these cards include are very similar, so the choice between the two really comes down to whether you’re primarily looking to earn rewards or access a long 0% intro APR on purchases and balance transfers.
State Farm Good Neighbor Visa® Card* vs. Citi® Diamond Preferred® Card
Another low introductory APR option to consider is the Citi® Diamond Preferred® Card. The card offers a 0% intro APR for 21 months on eligible balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% - 28.99%. Balance transfers must be completed within 4 months of account opening. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies. Though it shares almost none of the same additional benefits as the State Farm Good Neighbor Visa, we’re confident in saying the Citi Diamond Preferred is the better card between the two for most people seeking a break on interest charges.
Is the State Farm Good Neighbor Visa Credit Card for You?
For those who’ve exhausted all other low introductory APR options for one reason or another (and we don’t recommend balance transfer card-hopping) the State Farm Good Neighbor Visa® Card* may be an option. But many other 0% APR cards with longer offers exist. Consider going with one of those options instead.
Read more: Best Balance Transfer Credit Cards
Methodology
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:
- Annual fees
- Welcome bonus offers
- Balance transfer fees and length of offer
- Additional cardholder benefits
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.
To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Rates Credit Cards.
*The information for the following card(s) has been collected independently by Forbes Advisor: State Farm Good Neighbor Visa® Card, State Farm Premier Cash Rewards Visa Signature® Card. The card details on this page have not been reviewed or provided by the card issuer.
